Pakistan Stock Exchange (PSX) Weekly Analysis 10 August, 2019

BUY recommendations are:  ABL, ACPL, AKBL, APL, ASTL, BAHL, BAFL, BOP, CHCC, DGKC, EFERT, EFOODS, ENGRO, EPCL, FATIMA, FFBL, FCCL, FFBL, FFC, FML, GWLC, HASCOL, HBL, HCAR, HMB, HUBCO, INDU, KAPCO, KOHC, LOTCHEM, LUCK, MARI, MCB, MEBL, MLCF, MTL, NBP, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, POL, PPL, PSMC, PSO, SNGP, and UBL.

Top gainers of last week were:  DGKC, MLCF, EFOODS, NCL and FCCL.

Top losers of last week were: UBL, OGDC, HBL, PPL, HUBCO, APL, HASCOL, HMB, and INDU.

Top Volume Leaders of last week:  MLCF, KEL, TRG, UNITY, and ISL.

The Pakistan Stock Exchange (PSX) market index continued its FYTD tumble for fifth consecutive week, slipping 7.1%WoW to close at 29,429pts, dropping below the psychological 30K mark after a span of five years. KSE-100 index closed at 29,429 points, down by 2,237 points or 7.07 percent, while KSE-30 index closed on 13,793 by losing -1,259 points or - 8.36 %.

According to experts of http://www.karachistockexchange.com, following news have played vital role in Karachi Stock Market index movement:


  • Rising political noise which includes tensions between India & Pakistan, arrest of top leadership of PML-N and unhealthy corporate results kept market under pressure
  • PML-N Vice President Maryam Nawaz was taken into custody by the National Accountability Bureau (NAB) on Thursday from Kot Lakhpat Jail, where she had been visiting her incarcerated father, former premier Nawaz Sharif 
  • On August 2, the foreign currency reserves held by the SBP were recorded at $7,729.1 million, down $37.9 million, compared with $7,767 million in the previous week. The decrease in reserves was due to external debt servicing and other official payments
  • The National Assembly (NA) was informed that the government had retired record foreign loans worth of 9.5 billion dollars during the fiscal year
  • The government accrued income of PKR57,714 million rupees from the Asset Declaration Scheme that was launched to give people an opportunity to declare their undeclared assets by paying a certain amount of tax on it
  • To avoid US$30mn penalty under Take or Pay mechanism and reduce the volume of demurrages, the GoP has minimized FO and coal based power generation to ensure maximum intake of RLNG
  • The ECC of the Cabinet on Thursday approved mechanism for payment of subsidy on account of lower gas price of US$6.5/mmbtu to the export industry and ordered to have a proper definition of export oriented sector to avoid misuse of public funds
  • The National Security Committee on Wednesday decided to downgrade diplomatic ties with India and suspend bilateral trade in response to New Delhi’s move to annex occupied Kashmir
  • National Accountability Bureau (NAB) on Wednesday arrested former Finance Minister Miftah Ismail, former Managing Director of Pakistan State Oil (PSO) Sheikh Imran-ul-Haqin, in LNG corruption reference
  • During the week, commercial banks dragged the index by 844 points, followed by E&P & power which cumulatively eroded the index by 1,374 points
  • Foreigners remained net seller amounting to US$0.9mn. On the local’s side, Mutual Funds remained net seller of US$15.3mn, respectively
  • Board of Director (BoD) of the Nishat Chunian Limited (NCL) has decided to buy back 32mn shares of the company at value of Rs32 per share. The purpose of transaction is cancellation of shares and would be executed through tender offer

Following are few BUY recommendations:

Allied Bank (ABL) – BUY 
Current Price: PKR 86.02
Target Price: PKR 118.50

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 66.2
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 16.5
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 244.94
Target Price: PKR 402.0

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 16.41
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 68.12
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 36.50
Target Price: PKR  50.89

Bank of Punjab (BOP) – BUY 
Current Price: PKR 7.1
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 25.39
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 46.09
Target Price: PKR 93.91

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 62.91
Target Price: PKR 77.10

Engro Foods (EFOODS) – BUY 
Current Price: PKR 45.79
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 236.45
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 21.7
Target Price: PKR 46.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 25.21
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 15.24
Target Price: PKR 35.73

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 93.47
Target Price: PKR 115.77

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 13.29
Target Price: PKR 18.87

Feroze1888 Mills Ltd (FML) – BUY 
Current Price: PKR 99.2
Target Price: PKR 137.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 8.22
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 38.78
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 106.17
Target Price: PKR 140.47

Honda Atlas Cars (HCAR) – BUY 
Current Price: PKR 133.9
Target Price: PKR 206.8

Habib Metropolitan Bank (HMB) – BUY 
Current Price: PKR 30.80
Target Price: PKR 43.81

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 62.76
Target Price: PKR 101.05

Indus Motors (INDU) – BUY 
Current Price: PKR 1,000.00
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 29.75
Target Price: PKR 41.93

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 43.5
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 15.9
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 346.54
Target Price: PKR 581.40

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   852.2
Target Price: PKR 1,502.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   155.23
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 75.09
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 18.04
Target Price: PKR 22.90

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 719.6
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 28.87
Target Price: PKR 54.3

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 27.41
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 14.7
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 66.55
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 23.0
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 111.97
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 14.65
Target Price: PKR 18.30

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 17.81
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 363.60
Target Price: PKR 400

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 113.40
Target Price: PKR 208

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 156.83
Target Price: PKR 275.08

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 133.01
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 55.1
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 123.36
Target Price: PKR 165.50

Thank you very much for reading this article.

NOTE: The information posted in this blog /forum (http://www.karachistockexchange.com/) is based on current affairs & investors point of view. There may be discrepancy in the ground realities. The information given in this blog /forum (http://www.karachistockexchange.com/) is as of the date of this post and there can be no assurance that future results or events will be consistent with this information. This post is provided for assistance only and is not intended to be and must not alone be taken as the basis for any investment decision. The user assumes the entire risk of any use made of this information. Each viewer of this post should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this post (including the merits and risks involved), and should consult his or her own advisors to determine the merits and risks of such investment. This blog /forum (http://www.karachistockexchange.com/)  or any of its affiliates shall not be in any way responsible for any loss or damage that may be arise to any person from any inadvertent error in the information contained in this post.

Written by: Rana Khuram

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